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What is hyperinflation?

Practice Questions

Q1
What is hyperinflation?
  1. Inflation at a rate of 1-2%
  2. Inflation that exceeds 50% per month
  3. A stable inflation rate
  4. Deflationary period

Questions & Step-by-Step Solutions

What is hyperinflation?
  • Step 1: Understand what inflation means. Inflation is when prices of goods and services increase over time.
  • Step 2: Know that hyperinflation is a special case of inflation. It happens when prices rise very quickly.
  • Step 3: Recognize that hyperinflation is usually defined as inflation rates exceeding 50% per month.
  • Step 4: Realize that during hyperinflation, money loses its value rapidly, making it hard for people to buy things.
  • Step 5: Understand that hyperinflation can lead to economic problems, such as people struggling to afford basic needs.
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